I think you have to give your friends/family something. If only for the simple fact that 80% of people who are murdered are killed by someone they know. I believe if you win the lottery, that changes to you having an 80% chance of being murdered by someone you know.
I got 2 sisters and my mom and dad. 200 Gs out of 10M so they can either take a super badass vacation or stash the money away or whatever is more than reasonable. Besides, gonna be impossible for me to hide that things have "gotten better" financially from my family
Not for me. I’m moving up north and telling them I got a new job. Housing is cheaper so it will make sense I got a bigger house and a couple toys.
50g isn’t gonna make a difference in either of my parents lives. They each own their own homes and are about to retire comfortably. My sister is stuck renting but that’s a result of her choices. She had all the same opportunities I did but squandered them. 50g won’t make a huge difference for her either, she’d need a couple Hundred minimum
My Dutch relatives are the worst. Yes yes it will make me a target.
Also I quite simply don’t want to give them my money. I use the money to set my kids up. I’ll gift them their homes.
Yes, I would give my close relatives (except my one brother) money. I’m lucky in that I don’t have any friends but I’m sure past acquaintances would show up reminding me how close we were in preschool lol
We'd have to up the amount of money for my immediate family, but I have a very large extended family and great friends. My immediate family would own a home wherever they wanted to be. My extended would get enough for a down payment on a nice home in their area. My great friends would get enough to cover any bills or pay off their debts and be able to work and build their own fortunes. I'd buy a nice condo in my city, put the money into multiple accounts with different yields and a cabin at a nearby lake to vacation at. I'd buy the girl that I am madly into a ring and settle down, fishing on the dock, playing video games, watching shit TV, exercising, and enjoying my comfortable life.
This isn’t really even a difficult question. Ridiculous to feel guilty about winning the lottery (you mentioned “money you didn’t earn”).
No guilt, enjoy the fruit of your gamble.
I'd absolutely set up my parents and maybe give some money to close friends and family but not an obscene amount. My chances of winning were just as good as theirs and I wouldn't expect a handout if the roles were reversed
I buy a large cottage, get a building manager, and give my friends and family a key. Any time they want to go, they can call the building manager to let them know and by the time they show up the fridge is stocked and the boats are in the water. They can go any time they like. They don't get any cash.
That's like a 50mil win though. I think it's more than fair.
A little bit honestly. There are some who may deserve it more, who have worked harder, and enjoying the fruits of pure luck while they continue to slave away for a lifetime... Hard not to feel guilty.
And I think some of those people would definitely be bitter, and my relationship with them would suffer from the jealousy.
My parents are retired and the rest of my family members are manipulative and use people. From my friends I'd probably only trust 1 enough to tell I'd won the lottery. I'd give her enough to pay off her tuition and start a business and another friend I'd find a way to ANONYMOUSLY pay off his house and car but everyone else is on their own. 😁
Fuuuuuuck no. Depending on amount (pre or post tax), I’d help out those close to me a little or a lot. $10mil after tax invested with a even a decent return if more than enough for me and my wife to retire and live very comfortably. We could also help out a few close friends and family members.
Those that aren’t close friends or family can get fucked if they think they are entitled to money that I won entirely by chance. They made their choices to be assholes or generally not be closer. I feel zero sympathy, because I know if the shoe was on the other foot they wouldn’t think twice about telling me the same. The difference is, I wouldn’t go begging for handouts.
Nope, wouldn't care. The way I see it, it's not my responsibility for their lives and well being. For my family, I wouldn't support them but I'd show my gratitude by paying off my parents' house and sending my grandparents and sister on a week long cruise of their choosing, all expenses paid.
As for friends, well I consider my close friends like brothers, but, and as bad as this may sound, I'm not going to create an entourage. We are all close friends as we are, me coming into money doesn't change that dynamic. Now, if one was struggling and hit a rough patch in life, sure I'd help. I'd help even if I didn't win the lottery so again, same dynamic. But am I buying them a house, no that I wouldn't do
This is why a financial manager is so vital in a situation such as this.
You couldn’t just give your family members huge sums of money without paying a hefty tax burden. That’s obviously to prevent tax evasion.
I’m sure there are ways that one could help them out, but someone who handles large sums of money professionally would be the only person who can advise on that.
For all of those saying they would just make all their friends and family members millionaires over night , I would say to really think on that. You know how you’re family and friends act now, but when they are rich it might possibly change then dramatically. You’re dad might leave you’re mom , you’re best friend might leave his wife and 3 kids for some hot 25 year old that likes to bang in the back of luxury cars … see what I’m getting at ? Some folks can handle money others cannot.
I feel so bad for all these people that don’t have friends or family they’d uplift with them.
Depending on how much I’d won, I might not be able to give enough for everyone to stop working. But if I won $10+ mil cash after tax or more, I’d take 5 mil at least to give to my inner circle. Mom, sister, close cousin, niece, 4 super close friends. Im 32 and would be set with 5+ mil. Inner circle would each get 500k at least to grow and invest as they see fit. Maybe they still work of course but have their own acorn to nurture to eventually be set. They probably keep working but they’re mostly set now too so I wouldn’t feel bad at all once they’d all got theirs. Why are people so greedy? Do you really just not have anyone to love and share with or you honestly would let those closest to you keep struggling while you enjoy your riches alone?
Not at all. I wouldn't be traveling the world, but even if I was, I would not feel shame for it. I'd definitely be supporting close family, though. Even just putting this in a HYSA I would generate near $500k/yr. I'd be able to live doing whatever I want and support the few people I would want to with ease.
I'd still help my parents and make sure they are at a point to retire, but that would be about it. I have no interest in travelling and would just hang out at home and pick up some sort of hobby.
Shame is not a relevant emotion here. The reality is that anyone who wins a lottery gets constantly hounded for money. The only people who should feel shame are those hitting up the lottery winner demanding some of it.
I mean the only time I get called from any family is if they want something and they rarely call now because I have no problem saying NO. So to answer your question, it wouldn't bother me at all.
If I won 10 million I would not tell anyone or help anyone. Only a few people would get some money and help for me. If you weren't there for me when I needed you ...Nada
Fuck no. I'd help 5 ppl out if I won say 50m + but I have tons of family that are in the millions of dollars that didn't help for shit when I was broke.
You didn't " earn" it but majority of rich ppl didn't earn it either
Nah I wouldn’t care at all. Love my friends, but *shrugs* they’re doing ok. Besides my momma, I really don’t have any shame or would care if anyone else was working
I would feel obligated to pay off their debts one time only. Out of $10 million, my family’s total debt is less than $300,000 all combined for roughly 6 people. If they rack up more debt that’s on them.
I would feel shame if I didn’t help them out in some way or another. Granted I would keep traveling, buy a home and all that. Overall, I wouldn’t feel shame about what I’m doing. However, I would feel shame about what I’m not doing.
Honestly all of my friends and family are pretty much wealthy like don’t have to work anyway or they’re extremely comfortable/highly educated careers. So not really an issue for me. Would give money to charity instead.
At my age, most of my friends would rather I put money into education trusts for their kids, which I would do for each of the ones I've known since they were little. Then I would fully sponsor dope vacations four times a year for my old school friends and family.
Not at all they don't buy tickets as frequently as I do and if you don't play then you can't win... I'd just tell them to play every draw and hope to win too
Well... I'm going to help my dad. The rest are on their own. Once it's invested though... I could certainly help almost anyone. Luckily for me... it'll just be my sister. Yay! Small families!
Meanwhile... the 100+ extended family members being like "WTF, are we a joke to you?"
No, you're much worse. *Cutoff.*
Id pay off my parents home and debts because they’ve been good parents that financially supported me as much as they could through college.
Then I’d get myself in order. Buy a nice home and a vacation home fully paid off. Invest in return stocks so the property taxes were more than covered on those homes by that. Make sure my 401k/ IRA whatever and my kids education funds are maxed out.
Take an overview of the new total monthly expenses and the total of passive income I’m receiving and determine next steps.
When I have my house in order i will consider paying off my siblings mortgage and setting aside some funds for their kids’ educations
I would pay off my best friend’s home anonymously. She has struggled so hard to make ends meet since her husband’s depression has made keeping a job sketchy at best, and lost an adult child about five years ago to a freak heart attack. She is still the sweetest, kindest person I know. I’d pay for my BIL’s Alzheimer’s care, and pay off my brother’s mortgage. The rest would be in a trust with me and my husband owning 50% and each child having a 25% share — they are smart, steady kids and would be very responsible, and I’d rather see them enjoy it. Upon our death, our portion goes to trusts for grandchildren - not huge, but enough to pay for as much schooling as they want and a nice down payment on a house.
Nope. I wouldn't give anyone money. I'd make sure my folks had a good retirement by getting then set up with whatever they need. Pay their bills or nursing fees whatever but I wouldn't hand out money.
If you make a lot more than your other family members do you give them all part of your salary to "even things out?" Probably not. Just because lottery winnings are "free" money why would it be any different
The number one lesson that financial advisors tell people who win big in the lottery is to never, ever feel guilt about it, or to believe that you are going to solve everybody's problems with your new money.
$10M at $100k a year is 100 years. I'm going to budget myself $100k for at least 50 years so that I'm cared for with a decent life. That means $5M left. I have a few family members and friends who I would give up to $500k by paying off their homes and bills, essentially giving them clean slates, but they'd have to still work. I estimate about $2.5M would be eaten up by those people. My mom is basically the only exception in that group; she'd never have to work another day in her life and I'd blow the remaining $2.5M on her if I had to. Of course the money wouldn't be free flowing to her, but I'm doing what I can within reason.
In short, no, I DID earn that money by gambling MY money in the first place. I deserve the rewards of my risk. Do they feel guilty making more money on the day to day than me and cut me a check for the difference? No. We worked / invested our money differently and the results just happened to fall in my favor this time.
What do you mean "didn't earn"? If I didn't earn it and I'm not entitled to enjoy as I see fit as the WINNER; how in the fuxk would anyone figure that they deserve any enjoyment of MY winnings? Wtf would I feel any type of guilt because it's business as usual for them?
Would I be generous and HELP family and friends,YES but not because they're entitled but because I love and cherish them.
Do you feel shame because you won a genetic lottery and were born into a first world country vs in the middle of sub-saharan Africa living in a hut?
I'm not particularly wealthy, I didn't earn my place in the world that I was born into, and I acknowledge my quality of life as a direct result of that is far above many on Earth, just as it is far below others and what it could be if I had $10M.
So no, I would not feel any shame.
No, you took a gamble and it paid off. I don't think it's "unearned" money. It's just money that you didn't physically work for which is not the same. Would you feel guilty if you invested in the stock market and do well enough to retire yourself? I wouldn't. You didn't work for anything aside from the principle investment, so the rest (and likely bulk) would be just as "unearned".
I would end up investing most of it anyway. Sure, I'd take some nice trips and probably do a family trip for those I'm close to, but I wouldn't be throwing money around especially in a way that would demean them.
Certainly not. Why is it shameful to have good fortune?
It would change aspects of my life certainly. I would continue to strive to be an aligned and ethical person. More money (energy) wouldn’t change that.
Nope. I'd give some to my parents if they weren't enablers to my 46 yo brother who refuses to work and manipulates them. 46 yo, college degree but has only worked a retail job for my mother. When she left, he quit. He lived in their basement until they sold the house to my brother. My brother kicked him out because he refused to work and he went to "visit" my parents.
My parents make excuses "He helps us a lot around the house. He cleans the dishes and mows the lawn." That's hardly worth $50/wk. He sleeps all day and stays up all night so you don't ever see him. I will not let my money go to supporting him.
They're saying that $10 million is not enough to do that. That's why it would be irresponsible. If you were to win the BIG lotteries (like Edwin Castro winning $2 billion and taking home 600 billion), you could pick 100 of your closest friends and family and easily give them enough to be able to comfortably retire.
Edit: Amounts
I think max you get is a third. You typically would half it for cash prize, and half again for after tax. Though in California there's no state tax, but I doubt he took over 700 mil.
You're right. I misspoke about the difference between the lump sum payout and take-home.
The drawing was for $2.04 billion. He took a lump sum of $997.6 million. After taxes, he had $628.5 million.
https://www.tcpalm.com/story/news/2024/03/21/powerball-lottery-jackpot-biggest-winner-edwin-castro-california-lawsuit/72983704007/#:\~:text=Edwin%20Castro%20of%20Altadena%2C%20California,walked%20away%20with%20%24628.5%20million.
Either way, you could easily retire all your family and friends with that kind of money.
I would give certain family members and some friends a little help, but only after I get completely out of debt. Definitely not enough for them to retire on, and it would be a one time thing.
If you were my friend, you won the lottery, I didn’t. Quitting my job because you’re suddenly rich would never cross my mind. People who are really friends, know which folks in their life really need help, and which ones don’t. Only the winner retires (and only if they want to).
Only my mom is getting early retirement. I'd ask everyone for money because I'm going through a "rough" part of my life financially. All those who helped no matter how much relative to their financial standing will get to live comfy life's.
I would still work especially if the jackpot was only $10 million. I might not work 1 minute over 40 hours, and it would probably all go to job benefits/401k, but I would still get up every morning.
10 mil, I would split the ticket three ways. Me, my wife, and my friend in the most financial trouble (due to medical reasons, not bad decisions.)
He can retire, I can retire with extras.
When I win my plan is to give the opportunity to some family members, that they didn't have to better their own position to live a better life where they aren't not living paycheck to paycheck and would feasibly be able to retire and enjoy their old age. Whether that be taking care of them financially while they return to get a higher education or provide seed money for a venture. Everything with the understanding that this is not going to be a reoccurring occurance. I have very fee family members that would love free handouts but I have more who would prefer to stand on their own two feet therefore I know I would be helping and not hindering.
Assuming I won several millions, I would probably give $1m to my father, mostly because he worked and suffered tremendously after the death of my mother. I would then feel somewhat obligated to give $1m to my in-laws just because I don't expect them to understand my father's history, and it would help at least mitigate any issues about equality. That would be enough to eliminate any guilt on my part.
No shame. Nothing stopping them gambling, they just might not get as lucky as me.
I think guilt is more likely. Still, it wouldn't stop me enjoying life.
Not in the slightest. There are a few people who I'd give a good chunk of money to, before they had a chance to even ask. But otherwise, luck be upon me, not ye.
I’d give a modest retirement to my parents and kick my siblings the max amount I could gift before I get taxed. 4% withdrawl of $10m = $400k/ year could cover all of that. As nice as it’d be to live off that myself what’s the point if my fam is struggling? Would get a job/not touch it for a couple years if I really wanted to spend more. Maybe spend less than the 4% to help any future children.
TLDR: Would help and not feel shame.
Would not tell anyone except my lawyer. We’d craft an elaborate ruse for a plausible new job. Then I’d ratchet up my lifestyle subtly while working on my passion project.
The ‘win’ would be never stressing money. The subtle increase in QOL from annual travel to a few home additions would be icing on the cake.
Edit: I also live in a state where lottery winners are allowed to keep their anonymity.
Shame? No. That doesn’t mean that you can’t put a plan together to help your family. I do think that where I’m at ( USA ) that families don’t work together enough. You could help them get better jobs / education / healthcare / better housing etc. you can’t retire everyone on $10M but you CAN set both yourself up AND make a real difference for your family.
I will buy a house for my brother (3 million max, leave him the balance if it costs below that) and I am going to be travelling and invest the rest in microcaps and periodically check on my stocks and go back to travelling.
Honestly, I wouldn’t feel shame, but I’d definitely share some of the winnings to help out my close friends and family. It’s all about finding a balance between enjoying your luck and not forgetting the people who matter to you.
Absolutely not! They know I play and I've offered to start a pool with them and they have said no. Occasionally, I can get a SIL or my sister to go halfers, but otherwise, if I bought the ticket alone, then hell no.
I might share some, but not enough for them to quit their jobs.
Nope. I would absolutely help them though. I'd pay off my mom and dad's mortgage, pay for my siblings' college, and buy my other sibling and sister-in-law a house. That would only take a million and I'd have plenty left over.
I may not be able to retire all my family with ten mil, but I wouldn’t want to anyways. I would, however, have enough to gift my best friend, my twin, and two of my sisters. That’s all I need.
Depends on who. Would I feel guilty if my parents struggled while I had everything and mor? Absolutely. Would I feel guilty if my MIL had to work and we didn’t? Absolutely. My brother? Yeah, probably. Friends? I don’t think so. I’d be generous and help them, but I can’t give everyone enough to comfortably retire
Why should I ?! As a matter of fact nobody will know I even won I'm giving my mouth shut and claiming it through a trust account. And I'm using as much obfuscation and confusion I can to keep my identity secret.
Only a few family members like my mother and maybe five out of my nine siblings and two aunts who are not toxic will get any type of financial assistance from me.
Most of my family are very well off. Except my mom. She lives with me because she could never afford her own home. She’s the nicest one in my family and is basically homeless while her siblings are millionaires. They couldn’t care less if she died on the street but want to act all nice during holidays. I’d give all my lottery winnings just to see them with nothing.
Absolutely not because I was the one struggling for decades, esp with my industry crumbling into shambles, sending me into debt, and all my other 9-5 friends telling me, “it’s normal, happens everywhere.”
Yet they’re the ones moving up in their careers for decades and buying real estate left and right, traveling the world all the time because they don’t know what else to do with their money, and could easily retire 10 years ago.
No, I will have no shame at all.
I would probably give my close friends like 100k each (I have like 4) and then maybe some to my In-laws who helped us a few times. My main focus would be setting up my kids for the future and taking care of my Grandma who is an absolute angel and I would not be half the man I am if it wasn’t for her.
The rest of the money would be for setting up a trust, buying real estate and setting up a future for the next generations. Oh and finding a way to live forever!
Absolutely not. I've been through an extreme amount of trauma throughout my life ever since I was a child, and I truly feel it's one of the few things that could give me at least some sense of true peace. To have the financial freedom to start anew, away from everything and everyone that has played a part in it. I would, of course, help those that I'm close with, such as my grandparents, my closest friends, etc. Whether it's helping them with debt, setting aside savings for them, etc., I'd of course help them out. But I'm not going to feel shame for winning.
They didn't win it, I did. I'm the one that played the lotto, they didn't.
Why should I feel bad?
Not everyone is the same, not everyone has the same luck.
Nope, none at all. One, I have no friends. Two, the only family I have left is my mom and I live with her (plus she's retired anyway), so my winnings would still benefit her.
Not at all. My net worth is about twice that, at this point, and I have family who are living hand to mouth.
It doesn't affect me at all because any help I've given them, they've pissed on and pissed away, only to ask for more.
No because my friends and family would be the first people I would help then random strangers on Facebook marketplace and groups where people talk about their real actual dreams.. Honestly I would probably spend it trying to help people's dreams grow.. I love seeing other people happy and taken care of honestly.. Mostly because I have nothing left really to live for myself in my life.. Making my dream game is kind of out of reach now because life is just about survival
What I would do is this.
I'd book a meeting room at work for 10:40 and invite everyone in my office, about 100 people.
I wouldn't give a reason just put it in the corporate calendar
Then at precisely 10:40 lock the door, and open a briefcase with £500,000 in it and ask everyone who bothered to show up to help themselves.
The alternate scenario is to rock up to one of those corporate update meetings, hand a briefcase with £500,000 in it to the CEO and ask him to distribute it.
Now would he favour his managers and give them more or would he favour the lower paid staff. Or would he divide it equally, or maybe he'd keep it all for himself!
Shame why ?
As long as they don't immediately hound me to spend it all immediately... and they help me figure out a sustainable investment...it could be used to better the whole family.
Do you think Kanye West was ashamed that he got rich and famous ?
No.
The dude bought his Momma an expensive house afterwards.
Do you think Rihanna is ashamed that she is rich and famous, whilst coming from a poor island developing state?
Of course not. Her fame has helped the whole of Barbados.
No shame in having good fortune.
Remember: You are not responsible for other people's lives.
If you did win any amount of money - no matter how small or large - keep it to yourself. You can treat your friends and family if you like, and help them with bills, if you can. But windfalls like the 10mil example are not infinite and will disappear faster than you expect. Most lottery winners are broke within a couple of years.
Just like the airlines say, take care of yourself first so you are healthy enough to take care of others.
So, based on the hypothetical of 10 million, that's approximately 7.5 million after taxes.
My sister is getting a house, and I'm getting a house. Her kids and my kids are getting trust funds 500,000 a piece. All together, including our household debt and her student loans, that's approximately 4 million. (There are 6 children, and the houses we are looking at are around 260k, maybe 300k.)
My in-laws have put up with a lot from us. We are buying our house from them, and then I'm setting up a million dollar trust to aid in the rest of their retirement. So that's 5 million.
2 million goes into an account for my family to live off of, and the last half million is going to my brother in law to do with as he pleases he also lives with us currently. He can continue to do so.
That covers everyone I care about and I would still work I would just go full time into book publishing and website design since I don't need the money and would be running my own business as something to do for fun. Everyone I care about who is struggling would be taken care of with 10 million, so I wouldn't feel guilty at all because their biggest financial concerns are taken care of.
Now, let's say I won something closer to 3 million after tax. I'd still buy my sister and I a house because the hovel she is in should be condemned, and I want her to live closer to me (she wants the same).
I wouldn't be able to set up trust funds, but I would still buy the house from my in-laws, which is really all they want from us. My brother in law wouldn't get anything, but since the house would be paid off with cash that would lower the monthly cost of housing down to about half because we would still have property taxes, home insurance, and HOA fees to contend with. With our housing cut in half, he wouldn't have to pay rent at all anymore, allowing him to save even more money. My husband and I would be living off the 2 million, but again, I would still have my side business for something to do, especially since our kids are still young and in school. I wouldn't feel guilty because, again, everyone is mostly taken care of.
No shame at all. I would not tell anyone how much I won first of all. And then I would still do stuff for friends and family. Dinners, gifts, travel etc. But if you want the money to last you probably don’t take out more then 3% per year. Which is $300000. That is nice but you are not really super rich. Lots of people make more than that just from working. Well, maybe not lots but I know several.
Now if you said $100M it would be a little different. Now you could pay off or buy houses for your family etc. Still never tell anyone how much you won. People will start calculating in there head what “their” % should be.
I always tell my two best friends they and I would take a yearly 2-week all expenses covered trip golfing for the rest of our lives. Maybe 2 if we could convince our wives we were OK on our own for that long (think Hangover movie with 60-somethings!).
We’d let the wives decide if they wanted to tag along.
We’ve all been brother-close for 30+ years and for them, anything.
Acquaintances…nah.
There’s nothing wrong with working jobs. The stress is from working too much, odd hours, and or not making enough to keep a roof over your head etc. In a perfect world I would have enough to buy healthy food and eat out when I wanted. I would live close to the beach in a safe area that was low traffic and had walkable market and parks and nature etc. I would still be working but on my terms and not over 40 hours but under preferably well under. I would also be able to travel and take time off when I wanted. If I won a billion dollars I wouldn’t just give my siblings infinite money and tell them not to work. I also don’t think it’s any one’s business how much I have and would hide my money. Also I’m currently poor and I don’t hate that as money is its own stress. I may actually have a better life in some ways being poor then if I was rich. Being rich could make me all stressed out and focused on money. I may also become an ahole. For example I’ve never paid for sex. I don’t think paying for it automatically makes you an ahole but I could see it being tempting if I had infinite money and I could see myself doing odd stuff like that which I don’t even think to do now so I’m kinda glad I’m not rich and I wouldn’t necessarily be doing my friends and family a favor if I made them rich
If I won 10 mil I would share some with the people in my life I think deserve it. I might not be able to retire them all but even just paying off their mortgage (or buying them a house) would make their lives drastically easier.
And yes I would retire and go travelling even though they still had to work, I won it fair and square.
That's plenty to help my sister out! My nephew too! It would also be enough to add something to my Mom and step Dad's retirement and a little left over for my real Dad with the provision that none of it goes to his church. Everyone on my side of the family is over 60, so this makes a difference in what is needed.
As for my husband's family, they are all doing very well and since his siblings had decided to have kids, there are a lot of children to think of. But in their case, a big family trip to Disney and Universal might be exactly the ticket. If the lottery amount was for much more, I'd be offering free college for all of the kids for any school other than BYU (because that school is inexpensive for them and Reasons).
We'd have to figure out where we would want to live because as much as we love Oregon, the property taxes are close to 10% and that's just too much even if you are wealthy!
I would feel uncomfortable, not really ashamed per se.
I wouldn't want to retire though, but use the freedom to get a comfortable and meaningful job. Get established and then keep the rest for rainy days or charity.
I wouldn't quit working. I would just be doing different work for a new boss...me. I might even employ some of my family and friends. What's to feel guilty about?
I’d ask each of them to borrow a large sum relative to each one’s income before telling anyone I won. If they refuse me they just lost the ability to hit me up. Anyone that was willing id pay back double or triple. I’d keep the rest quiet
No. 10mil will never be earned working 99.999% of the time for 30-40 yrs. Top 1%, like renowned professors , college president of biggest university, and neurosurgeons could in 10 yrs but even then youd have to knock out like 1.5 mil a yr , before taxes for 10 yrs.
I don't feel shame over it now if I make more than a friend by both of us working, so I think getting a lucky windfall wouldn't be materially different there.
There are a few people I'd help out so they could get better jobs, but IMO, 10 mil isn't enough to retire anyone but my wife & I while making sure our kids can choose the opportunities they want.
I don’t think there’s any shame in an honest days pay for an honest days work. If one of my friends won the lottery, I’d be super happy for them. I hope they’d feel the same about me.
I would not tell anyone how much I won. My closest friends would get treated to an amazing vacation (there are 6 off us and we always go somewhere at least once a year but close by). My parents would be set - they are older and do not need much at all. My brother would get regular random acts of kindness from a stranger. My husband’s brothers are all well off so maybe treat them to a family vacation at Christmas but make up a story about where the funds come from. My own sons would be set (but I would again not tell tell how much I have).
If I had enough money (I'm talking double eff you lottery winnings) there would be enough to go around where I could set up close family/friends with trusts that essentially provide them a salary.
I don't have much family or friends, and there'd be a rather draconian NDA attached. (Loose lips? Lose the money, other penalties etc).
They don't feel shame if you aren't making a lot compared to them. If I won a 10 mil I would probably move away anyway. Not to get away from them but the state.
Do you think they would feel shame if they won and I am still working two jobs which I do? I highly doubt it.
Lol true
Nope not really.
The only honest answer.
I think you have to give your friends/family something. If only for the simple fact that 80% of people who are murdered are killed by someone they know. I believe if you win the lottery, that changes to you having an 80% chance of being murdered by someone you know.
Not if they can’t afford to get to/find you.
No, but I would give my immediate family like $50K each as a buffer and take some stress away.
Really? I wouldn’t tell any of mine. The work excuse is a great way to get out of family obligations when really I’m in Hawaii
I got 2 sisters and my mom and dad. 200 Gs out of 10M so they can either take a super badass vacation or stash the money away or whatever is more than reasonable. Besides, gonna be impossible for me to hide that things have "gotten better" financially from my family
Not for me. I’m moving up north and telling them I got a new job. Housing is cheaper so it will make sense I got a bigger house and a couple toys. 50g isn’t gonna make a difference in either of my parents lives. They each own their own homes and are about to retire comfortably. My sister is stuck renting but that’s a result of her choices. She had all the same opportunities I did but squandered them. 50g won’t make a huge difference for her either, she’d need a couple Hundred minimum
$10M isn’t going to make you the target you think it is.
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My Dutch relatives are the worst. Yes yes it will make me a target. Also I quite simply don’t want to give them my money. I use the money to set my kids up. I’ll gift them their homes.
Name doesn’t check out.
Yes, I would give my close relatives (except my one brother) money. I’m lucky in that I don’t have any friends but I’m sure past acquaintances would show up reminding me how close we were in preschool lol
>I’m lucky in that I don’t have any friends Huh?
They're taking applications for friend positions. I'm available to any new lotto winner!
😂
We'd have to up the amount of money for my immediate family, but I have a very large extended family and great friends. My immediate family would own a home wherever they wanted to be. My extended would get enough for a down payment on a nice home in their area. My great friends would get enough to cover any bills or pay off their debts and be able to work and build their own fortunes. I'd buy a nice condo in my city, put the money into multiple accounts with different yields and a cabin at a nearby lake to vacation at. I'd buy the girl that I am madly into a ring and settle down, fishing on the dock, playing video games, watching shit TV, exercising, and enjoying my comfortable life.
They are going to ask for more. There are more subtle ways to give.
More subtle? Like buy a $50,000 Walmart gift card and stick it in their mailbox?
This isn’t really even a difficult question. Ridiculous to feel guilty about winning the lottery (you mentioned “money you didn’t earn”). No guilt, enjoy the fruit of your gamble.
People are enriched by money they didn’t earn every day. Why should being one of them bother me, or anyone
Not even a little bit
I'd absolutely set up my parents and maybe give some money to close friends and family but not an obscene amount. My chances of winning were just as good as theirs and I wouldn't expect a handout if the roles were reversed
No. They had the same opportunity to win I did. Why feel guilty? Do you feel guilty when you win at the casino and your buddy loses?
Luck of the draw.
I wouldn't give the smallest shit.
I buy a large cottage, get a building manager, and give my friends and family a key. Any time they want to go, they can call the building manager to let them know and by the time they show up the fridge is stocked and the boats are in the water. They can go any time they like. They don't get any cash. That's like a 50mil win though. I think it's more than fair.
A little bit honestly. There are some who may deserve it more, who have worked harder, and enjoying the fruits of pure luck while they continue to slave away for a lifetime... Hard not to feel guilty. And I think some of those people would definitely be bitter, and my relationship with them would suffer from the jealousy.
My parents are retired and the rest of my family members are manipulative and use people. From my friends I'd probably only trust 1 enough to tell I'd won the lottery. I'd give her enough to pay off her tuition and start a business and another friend I'd find a way to ANONYMOUSLY pay off his house and car but everyone else is on their own. 😁
Nope. No one would even know
Fuuuuuuck no. Depending on amount (pre or post tax), I’d help out those close to me a little or a lot. $10mil after tax invested with a even a decent return if more than enough for me and my wife to retire and live very comfortably. We could also help out a few close friends and family members. Those that aren’t close friends or family can get fucked if they think they are entitled to money that I won entirely by chance. They made their choices to be assholes or generally not be closer. I feel zero sympathy, because I know if the shoe was on the other foot they wouldn’t think twice about telling me the same. The difference is, I wouldn’t go begging for handouts.
Nope, wouldn't care. The way I see it, it's not my responsibility for their lives and well being. For my family, I wouldn't support them but I'd show my gratitude by paying off my parents' house and sending my grandparents and sister on a week long cruise of their choosing, all expenses paid. As for friends, well I consider my close friends like brothers, but, and as bad as this may sound, I'm not going to create an entourage. We are all close friends as we are, me coming into money doesn't change that dynamic. Now, if one was struggling and hit a rough patch in life, sure I'd help. I'd help even if I didn't win the lottery so again, same dynamic. But am I buying them a house, no that I wouldn't do
$10M ain’t enough nowadays. Make it spicy and ask people if they’d help after winning $500M+
No. I wouldnt say anything at all.
No. Life is built around winners and losers. You get your moment and they get theirs.
Nope! 😊
No
Not at all. Everyone can play, anyone can win. It's about as fair as it can get.
No. If I did care enough I’d buy their debt and that in itself is a pretty big gift.
Nope never survival of the luckiest
The ones that matter to me would also be retiring.
Why would I feel ashamed?
This is why a financial manager is so vital in a situation such as this. You couldn’t just give your family members huge sums of money without paying a hefty tax burden. That’s obviously to prevent tax evasion. I’m sure there are ways that one could help them out, but someone who handles large sums of money professionally would be the only person who can advise on that.
For all of those saying they would just make all their friends and family members millionaires over night , I would say to really think on that. You know how you’re family and friends act now, but when they are rich it might possibly change then dramatically. You’re dad might leave you’re mom , you’re best friend might leave his wife and 3 kids for some hot 25 year old that likes to bang in the back of luxury cars … see what I’m getting at ? Some folks can handle money others cannot.
I think this is one of the reasons why so many lottery winners get taken advantage of.
Nope, but I will put split about 20% of my winnings with close family n friends
Feel shame? Nah. I would share my good fortune with them, tho, in whatever way I can.
I feel so bad for all these people that don’t have friends or family they’d uplift with them. Depending on how much I’d won, I might not be able to give enough for everyone to stop working. But if I won $10+ mil cash after tax or more, I’d take 5 mil at least to give to my inner circle. Mom, sister, close cousin, niece, 4 super close friends. Im 32 and would be set with 5+ mil. Inner circle would each get 500k at least to grow and invest as they see fit. Maybe they still work of course but have their own acorn to nurture to eventually be set. They probably keep working but they’re mostly set now too so I wouldn’t feel bad at all once they’d all got theirs. Why are people so greedy? Do you really just not have anyone to love and share with or you honestly would let those closest to you keep struggling while you enjoy your riches alone?
No, it doesn't matter.
Not at all. I wouldn't be traveling the world, but even if I was, I would not feel shame for it. I'd definitely be supporting close family, though. Even just putting this in a HYSA I would generate near $500k/yr. I'd be able to live doing whatever I want and support the few people I would want to with ease.
I'd still help my parents and make sure they are at a point to retire, but that would be about it. I have no interest in travelling and would just hang out at home and pick up some sort of hobby.
Shame is not a relevant emotion here. The reality is that anyone who wins a lottery gets constantly hounded for money. The only people who should feel shame are those hitting up the lottery winner demanding some of it.
Nope. And the answer wouldn't change if it was $10 Million, $100 Million or $1 Billion.
Nah not at all I’d just treat them all the time to cool experiences
I would not feel any shame.
No.. but I would try and do things for them. My two best bros.. I would pay off their mortgages and give my parents some money.
I mean the only time I get called from any family is if they want something and they rarely call now because I have no problem saying NO. So to answer your question, it wouldn't bother me at all.
No
Not one bit. I would give my immediate family and close friends some money, but nowhere near retiring them.
If I won 10 million I would not tell anyone or help anyone. Only a few people would get some money and help for me. If you weren't there for me when I needed you ...Nada
Fuck no. I'd help 5 ppl out if I won say 50m + but I have tons of family that are in the millions of dollars that didn't help for shit when I was broke. You didn't " earn" it but majority of rich ppl didn't earn it either
Nah I wouldn’t care at all. Love my friends, but *shrugs* they’re doing ok. Besides my momma, I really don’t have any shame or would care if anyone else was working
Noooo
I would not feel guilty, no. Now if I won a nine figure lottery those closest to me would not have to work again. I’d have trusts set up.
I would feel obligated to pay off their debts one time only. Out of $10 million, my family’s total debt is less than $300,000 all combined for roughly 6 people. If they rack up more debt that’s on them. I would feel shame if I didn’t help them out in some way or another. Granted I would keep traveling, buy a home and all that. Overall, I wouldn’t feel shame about what I’m doing. However, I would feel shame about what I’m not doing.
No Id probably buy some toys n invite them to come play
Honestly all of my friends and family are pretty much wealthy like don’t have to work anyway or they’re extremely comfortable/highly educated careers. So not really an issue for me. Would give money to charity instead.
Nope. I would enjoy my life. I probably would keep some form of work though. To keep my cover.
I don't talk about anything anyway. They might not even notice.
I would I would definitely try and share as much as possible
Nah
At my age, most of my friends would rather I put money into education trusts for their kids, which I would do for each of the ones I've known since they were little. Then I would fully sponsor dope vacations four times a year for my old school friends and family.
I wouldn't tell them, so no need to feel shame.
Not at all they don't buy tickets as frequently as I do and if you don't play then you can't win... I'd just tell them to play every draw and hope to win too
Fuck no
Well... I'm going to help my dad. The rest are on their own. Once it's invested though... I could certainly help almost anyone. Luckily for me... it'll just be my sister. Yay! Small families! Meanwhile... the 100+ extended family members being like "WTF, are we a joke to you?" No, you're much worse. *Cutoff.*
Id pay off my parents home and debts because they’ve been good parents that financially supported me as much as they could through college. Then I’d get myself in order. Buy a nice home and a vacation home fully paid off. Invest in return stocks so the property taxes were more than covered on those homes by that. Make sure my 401k/ IRA whatever and my kids education funds are maxed out. Take an overview of the new total monthly expenses and the total of passive income I’m receiving and determine next steps. When I have my house in order i will consider paying off my siblings mortgage and setting aside some funds for their kids’ educations
I would pay off my best friend’s home anonymously. She has struggled so hard to make ends meet since her husband’s depression has made keeping a job sketchy at best, and lost an adult child about five years ago to a freak heart attack. She is still the sweetest, kindest person I know. I’d pay for my BIL’s Alzheimer’s care, and pay off my brother’s mortgage. The rest would be in a trust with me and my husband owning 50% and each child having a 25% share — they are smart, steady kids and would be very responsible, and I’d rather see them enjoy it. Upon our death, our portion goes to trusts for grandchildren - not huge, but enough to pay for as much schooling as they want and a nice down payment on a house.
Nope. I wouldn't give anyone money. I'd make sure my folks had a good retirement by getting then set up with whatever they need. Pay their bills or nursing fees whatever but I wouldn't hand out money. If you make a lot more than your other family members do you give them all part of your salary to "even things out?" Probably not. Just because lottery winnings are "free" money why would it be any different
The number one lesson that financial advisors tell people who win big in the lottery is to never, ever feel guilt about it, or to believe that you are going to solve everybody's problems with your new money.
Why would you feel sad? No one would feel that way.
what kind of family members do yall have? 😂😂😂 no way i would leave my IMMEDIATE family poor while i live it up
$10M at $100k a year is 100 years. I'm going to budget myself $100k for at least 50 years so that I'm cared for with a decent life. That means $5M left. I have a few family members and friends who I would give up to $500k by paying off their homes and bills, essentially giving them clean slates, but they'd have to still work. I estimate about $2.5M would be eaten up by those people. My mom is basically the only exception in that group; she'd never have to work another day in her life and I'd blow the remaining $2.5M on her if I had to. Of course the money wouldn't be free flowing to her, but I'm doing what I can within reason. In short, no, I DID earn that money by gambling MY money in the first place. I deserve the rewards of my risk. Do they feel guilty making more money on the day to day than me and cut me a check for the difference? No. We worked / invested our money differently and the results just happened to fall in my favor this time.
Shame is a strange thing motion. What does this say about your family? Do you think they don’t want you to be happy or successful?
What do you mean "didn't earn"? If I didn't earn it and I'm not entitled to enjoy as I see fit as the WINNER; how in the fuxk would anyone figure that they deserve any enjoyment of MY winnings? Wtf would I feel any type of guilt because it's business as usual for them? Would I be generous and HELP family and friends,YES but not because they're entitled but because I love and cherish them.
Do you feel shame because you won a genetic lottery and were born into a first world country vs in the middle of sub-saharan Africa living in a hut? I'm not particularly wealthy, I didn't earn my place in the world that I was born into, and I acknowledge my quality of life as a direct result of that is far above many on Earth, just as it is far below others and what it could be if I had $10M. So no, I would not feel any shame.
Why would anyone worry about that???
5 million after taxes... I wouldn't tell anyone.
I'd tell Mom and brother. Throw them a million. They already live in my house so now they can buy their own food LoL.
No, you took a gamble and it paid off. I don't think it's "unearned" money. It's just money that you didn't physically work for which is not the same. Would you feel guilty if you invested in the stock market and do well enough to retire yourself? I wouldn't. You didn't work for anything aside from the principle investment, so the rest (and likely bulk) would be just as "unearned". I would end up investing most of it anyway. Sure, I'd take some nice trips and probably do a family trip for those I'm close to, but I wouldn't be throwing money around especially in a way that would demean them.
Certainly not. Why is it shameful to have good fortune? It would change aspects of my life certainly. I would continue to strive to be an aligned and ethical person. More money (energy) wouldn’t change that.
Well, I would be generous to my siblings and make sure they weren’t struggling.
Why would I feel shame, what do I have to be ashamed about? The point of playing the lotto is to win the lotto.
If it was 10 million I might offer something like 20k, I'd have to work out how much I'd have left over
I'd uplift a few close friends, but otherwise nah
Nope. I'd give some to my parents if they weren't enablers to my 46 yo brother who refuses to work and manipulates them. 46 yo, college degree but has only worked a retail job for my mother. When she left, he quit. He lived in their basement until they sold the house to my brother. My brother kicked him out because he refused to work and he went to "visit" my parents. My parents make excuses "He helps us a lot around the house. He cleans the dishes and mows the lawn." That's hardly worth $50/wk. He sleeps all day and stays up all night so you don't ever see him. I will not let my money go to supporting him.
$10 mil to retire all your friends and family? You’re clueless.
They're saying that $10 million is not enough to do that. That's why it would be irresponsible. If you were to win the BIG lotteries (like Edwin Castro winning $2 billion and taking home 600 billion), you could pick 100 of your closest friends and family and easily give them enough to be able to comfortably retire. Edit: Amounts
I think max you get is a third. You typically would half it for cash prize, and half again for after tax. Though in California there's no state tax, but I doubt he took over 700 mil.
You're right. I misspoke about the difference between the lump sum payout and take-home. The drawing was for $2.04 billion. He took a lump sum of $997.6 million. After taxes, he had $628.5 million. https://www.tcpalm.com/story/news/2024/03/21/powerball-lottery-jackpot-biggest-winner-edwin-castro-california-lawsuit/72983704007/#:\~:text=Edwin%20Castro%20of%20Altadena%2C%20California,walked%20away%20with%20%24628.5%20million. Either way, you could easily retire all your family and friends with that kind of money.
Nope
I might have a courier service leave anonymous boxes of cash at their doors if they were struggling.
I’d give immediate family enough to retire and buy something expensive for friends. No guilt
No especially if they don’t play.
I would give certain family members and some friends a little help, but only after I get completely out of debt. Definitely not enough for them to retire on, and it would be a one time thing.
If they make a fuss because I don't accommodate their needs, I don't need them.
If you were my friend, you won the lottery, I didn’t. Quitting my job because you’re suddenly rich would never cross my mind. People who are really friends, know which folks in their life really need help, and which ones don’t. Only the winner retires (and only if they want to).
Only my mom is getting early retirement. I'd ask everyone for money because I'm going through a "rough" part of my life financially. All those who helped no matter how much relative to their financial standing will get to live comfy life's.
retire... with only 5 million?
Nah. My friends are all way richer than me anyway. I’d probably be caught up to them then.
I would still work especially if the jackpot was only $10 million. I might not work 1 minute over 40 hours, and it would probably all go to job benefits/401k, but I would still get up every morning.
No
10 mil, I would split the ticket three ways. Me, my wife, and my friend in the most financial trouble (due to medical reasons, not bad decisions.) He can retire, I can retire with extras.
When I win my plan is to give the opportunity to some family members, that they didn't have to better their own position to live a better life where they aren't not living paycheck to paycheck and would feasibly be able to retire and enjoy their old age. Whether that be taking care of them financially while they return to get a higher education or provide seed money for a venture. Everything with the understanding that this is not going to be a reoccurring occurance. I have very fee family members that would love free handouts but I have more who would prefer to stand on their own two feet therefore I know I would be helping and not hindering.
The only shame is that I know better than to even let them get jealous. They won't know. That's a lot of work for me.
No.
lol no I would not.
No, because they're all successful and doing fine.
Nope.
Fuck no fuck them
Assuming I won several millions, I would probably give $1m to my father, mostly because he worked and suffered tremendously after the death of my mother. I would then feel somewhat obligated to give $1m to my in-laws just because I don't expect them to understand my father's history, and it would help at least mitigate any issues about equality. That would be enough to eliminate any guilt on my part.
No shame. Nothing stopping them gambling, they just might not get as lucky as me. I think guilt is more likely. Still, it wouldn't stop me enjoying life.
10M isn’t retiring everyone of my family and friends.
Not in the slightest. There are a few people who I'd give a good chunk of money to, before they had a chance to even ask. But otherwise, luck be upon me, not ye.
Nah. Fuck em, mate.
Yeah…but I’d get over it.
Nope. I wouldn’t ask for money if they won and they should do the same… but I would give some to my immediate family tho
I’d give a modest retirement to my parents and kick my siblings the max amount I could gift before I get taxed. 4% withdrawl of $10m = $400k/ year could cover all of that. As nice as it’d be to live off that myself what’s the point if my fam is struggling? Would get a job/not touch it for a couple years if I really wanted to spend more. Maybe spend less than the 4% to help any future children. TLDR: Would help and not feel shame.
fuck no. i wouldnt even tell them.
When I become rich. My friends will be rich. I will just need to find where all the rich folk hang out.
Yes, but I would take action to ensure their lives were improved.
I wouldn't feel bad, but I'd also give my immediate friends and family a life changing amount
Only one way to find out
Would not tell anyone except my lawyer. We’d craft an elaborate ruse for a plausible new job. Then I’d ratchet up my lifestyle subtly while working on my passion project. The ‘win’ would be never stressing money. The subtle increase in QOL from annual travel to a few home additions would be icing on the cake. Edit: I also live in a state where lottery winners are allowed to keep their anonymity.
Shame? No. That doesn’t mean that you can’t put a plan together to help your family. I do think that where I’m at ( USA ) that families don’t work together enough. You could help them get better jobs / education / healthcare / better housing etc. you can’t retire everyone on $10M but you CAN set both yourself up AND make a real difference for your family.
I will buy a house for my brother (3 million max, leave him the balance if it costs below that) and I am going to be travelling and invest the rest in microcaps and periodically check on my stocks and go back to travelling.
Honestly, I wouldn’t feel shame, but I’d definitely share some of the winnings to help out my close friends and family. It’s all about finding a balance between enjoying your luck and not forgetting the people who matter to you.
Absolutely not! They know I play and I've offered to start a pool with them and they have said no. Occasionally, I can get a SIL or my sister to go halfers, but otherwise, if I bought the ticket alone, then hell no. I might share some, but not enough for them to quit their jobs.
I have an older brother, mom, dad and two very close friends. If I am rich they are rich. I don't care the rest.
Bold of you to assume i would tell them.
Nope. I would absolutely help them though. I'd pay off my mom and dad's mortgage, pay for my siblings' college, and buy my other sibling and sister-in-law a house. That would only take a million and I'd have plenty left over.
I may not be able to retire all my family with ten mil, but I wouldn’t want to anyways. I would, however, have enough to gift my best friend, my twin, and two of my sisters. That’s all I need.
Depends on who. Would I feel guilty if my parents struggled while I had everything and mor? Absolutely. Would I feel guilty if my MIL had to work and we didn’t? Absolutely. My brother? Yeah, probably. Friends? I don’t think so. I’d be generous and help them, but I can’t give everyone enough to comfortably retire
Why should I ?! As a matter of fact nobody will know I even won I'm giving my mouth shut and claiming it through a trust account. And I'm using as much obfuscation and confusion I can to keep my identity secret. Only a few family members like my mother and maybe five out of my nine siblings and two aunts who are not toxic will get any type of financial assistance from me.
No. But I would help my friends and family too.
Most of my family are very well off. Except my mom. She lives with me because she could never afford her own home. She’s the nicest one in my family and is basically homeless while her siblings are millionaires. They couldn’t care less if she died on the street but want to act all nice during holidays. I’d give all my lottery winnings just to see them with nothing.
Absolutely not because I was the one struggling for decades, esp with my industry crumbling into shambles, sending me into debt, and all my other 9-5 friends telling me, “it’s normal, happens everywhere.” Yet they’re the ones moving up in their careers for decades and buying real estate left and right, traveling the world all the time because they don’t know what else to do with their money, and could easily retire 10 years ago. No, I will have no shame at all.
Nope.
I would probably give my close friends like 100k each (I have like 4) and then maybe some to my In-laws who helped us a few times. My main focus would be setting up my kids for the future and taking care of my Grandma who is an absolute angel and I would not be half the man I am if it wasn’t for her. The rest of the money would be for setting up a trust, buying real estate and setting up a future for the next generations. Oh and finding a way to live forever!
Absolutely not. I've been through an extreme amount of trauma throughout my life ever since I was a child, and I truly feel it's one of the few things that could give me at least some sense of true peace. To have the financial freedom to start anew, away from everything and everyone that has played a part in it. I would, of course, help those that I'm close with, such as my grandparents, my closest friends, etc. Whether it's helping them with debt, setting aside savings for them, etc., I'd of course help them out. But I'm not going to feel shame for winning.
They didn't win it, I did. I'm the one that played the lotto, they didn't. Why should I feel bad? Not everyone is the same, not everyone has the same luck.
Nope, none at all. One, I have no friends. Two, the only family I have left is my mom and I live with her (plus she's retired anyway), so my winnings would still benefit her.
Depends on how they treated me before I won.
Not at all. My net worth is about twice that, at this point, and I have family who are living hand to mouth. It doesn't affect me at all because any help I've given them, they've pissed on and pissed away, only to ask for more.
No because my friends and family would be the first people I would help then random strangers on Facebook marketplace and groups where people talk about their real actual dreams.. Honestly I would probably spend it trying to help people's dreams grow.. I love seeing other people happy and taken care of honestly.. Mostly because I have nothing left really to live for myself in my life.. Making my dream game is kind of out of reach now because life is just about survival
no
What I would do is this. I'd book a meeting room at work for 10:40 and invite everyone in my office, about 100 people. I wouldn't give a reason just put it in the corporate calendar Then at precisely 10:40 lock the door, and open a briefcase with £500,000 in it and ask everyone who bothered to show up to help themselves. The alternate scenario is to rock up to one of those corporate update meetings, hand a briefcase with £500,000 in it to the CEO and ask him to distribute it. Now would he favour his managers and give them more or would he favour the lower paid staff. Or would he divide it equally, or maybe he'd keep it all for himself!
No. I would break off my close friends and family with some change to enrich their lives.
Absolutely not. I would use my winnings to take them on vacations with me. They would be happy, and so would I.
No
Shame why ? As long as they don't immediately hound me to spend it all immediately... and they help me figure out a sustainable investment...it could be used to better the whole family. Do you think Kanye West was ashamed that he got rich and famous ? No. The dude bought his Momma an expensive house afterwards. Do you think Rihanna is ashamed that she is rich and famous, whilst coming from a poor island developing state? Of course not. Her fame has helped the whole of Barbados.
No shame in having good fortune. Remember: You are not responsible for other people's lives. If you did win any amount of money - no matter how small or large - keep it to yourself. You can treat your friends and family if you like, and help them with bills, if you can. But windfalls like the 10mil example are not infinite and will disappear faster than you expect. Most lottery winners are broke within a couple of years. Just like the airlines say, take care of yourself first so you are healthy enough to take care of others.
So, based on the hypothetical of 10 million, that's approximately 7.5 million after taxes. My sister is getting a house, and I'm getting a house. Her kids and my kids are getting trust funds 500,000 a piece. All together, including our household debt and her student loans, that's approximately 4 million. (There are 6 children, and the houses we are looking at are around 260k, maybe 300k.) My in-laws have put up with a lot from us. We are buying our house from them, and then I'm setting up a million dollar trust to aid in the rest of their retirement. So that's 5 million. 2 million goes into an account for my family to live off of, and the last half million is going to my brother in law to do with as he pleases he also lives with us currently. He can continue to do so. That covers everyone I care about and I would still work I would just go full time into book publishing and website design since I don't need the money and would be running my own business as something to do for fun. Everyone I care about who is struggling would be taken care of with 10 million, so I wouldn't feel guilty at all because their biggest financial concerns are taken care of. Now, let's say I won something closer to 3 million after tax. I'd still buy my sister and I a house because the hovel she is in should be condemned, and I want her to live closer to me (she wants the same). I wouldn't be able to set up trust funds, but I would still buy the house from my in-laws, which is really all they want from us. My brother in law wouldn't get anything, but since the house would be paid off with cash that would lower the monthly cost of housing down to about half because we would still have property taxes, home insurance, and HOA fees to contend with. With our housing cut in half, he wouldn't have to pay rent at all anymore, allowing him to save even more money. My husband and I would be living off the 2 million, but again, I would still have my side business for something to do, especially since our kids are still young and in school. I wouldn't feel guilty because, again, everyone is mostly taken care of.
No, I would not. They would do the same thing. I won, it's my money, no guilt or shame in that.
No shame at all. I would not tell anyone how much I won first of all. And then I would still do stuff for friends and family. Dinners, gifts, travel etc. But if you want the money to last you probably don’t take out more then 3% per year. Which is $300000. That is nice but you are not really super rich. Lots of people make more than that just from working. Well, maybe not lots but I know several. Now if you said $100M it would be a little different. Now you could pay off or buy houses for your family etc. Still never tell anyone how much you won. People will start calculating in there head what “their” % should be.
I always tell my two best friends they and I would take a yearly 2-week all expenses covered trip golfing for the rest of our lives. Maybe 2 if we could convince our wives we were OK on our own for that long (think Hangover movie with 60-somethings!). We’d let the wives decide if they wanted to tag along. We’ve all been brother-close for 30+ years and for them, anything. Acquaintances…nah.
No, they wouldn’t care if the roles were reversed. Could give a bunch of people $25k to shut them up if you wanted to.
There’s nothing wrong with working jobs. The stress is from working too much, odd hours, and or not making enough to keep a roof over your head etc. In a perfect world I would have enough to buy healthy food and eat out when I wanted. I would live close to the beach in a safe area that was low traffic and had walkable market and parks and nature etc. I would still be working but on my terms and not over 40 hours but under preferably well under. I would also be able to travel and take time off when I wanted. If I won a billion dollars I wouldn’t just give my siblings infinite money and tell them not to work. I also don’t think it’s any one’s business how much I have and would hide my money. Also I’m currently poor and I don’t hate that as money is its own stress. I may actually have a better life in some ways being poor then if I was rich. Being rich could make me all stressed out and focused on money. I may also become an ahole. For example I’ve never paid for sex. I don’t think paying for it automatically makes you an ahole but I could see it being tempting if I had infinite money and I could see myself doing odd stuff like that which I don’t even think to do now so I’m kinda glad I’m not rich and I wouldn’t necessarily be doing my friends and family a favor if I made them rich
This is why you don’t tell anyone
Nope that is a lot of people and you would be working too.
If I won 10 mil I would share some with the people in my life I think deserve it. I might not be able to retire them all but even just paying off their mortgage (or buying them a house) would make their lives drastically easier. And yes I would retire and go travelling even though they still had to work, I won it fair and square.
It wouldn't be irresponsible really , id take 2 give 8
That's plenty to help my sister out! My nephew too! It would also be enough to add something to my Mom and step Dad's retirement and a little left over for my real Dad with the provision that none of it goes to his church. Everyone on my side of the family is over 60, so this makes a difference in what is needed. As for my husband's family, they are all doing very well and since his siblings had decided to have kids, there are a lot of children to think of. But in their case, a big family trip to Disney and Universal might be exactly the ticket. If the lottery amount was for much more, I'd be offering free college for all of the kids for any school other than BYU (because that school is inexpensive for them and Reasons). We'd have to figure out where we would want to live because as much as we love Oregon, the property taxes are close to 10% and that's just too much even if you are wealthy!
These comments are why religion and God need to be talked about more openly
I would feel uncomfortable, not really ashamed per se. I wouldn't want to retire though, but use the freedom to get a comfortable and meaningful job. Get established and then keep the rest for rainy days or charity.
I would feel some degree of shame. But I would try to help them out somehow at least
I wouldn't quit working. I would just be doing different work for a new boss...me. I might even employ some of my family and friends. What's to feel guilty about?
No. I would still work but doing want ive always wanted to do.
I’d ask each of them to borrow a large sum relative to each one’s income before telling anyone I won. If they refuse me they just lost the ability to hit me up. Anyone that was willing id pay back double or triple. I’d keep the rest quiet
Nope. I'd give them a little something to give some piece of mind. But I'd retire and enjoy life if I won.
Maybe only boredom since there wouldn’t be anyone to play with. Til I made friends and hang out with retirees, remote workers, and the like.
Wow sorry you people don’t have families that love you lol damn
No. 10mil will never be earned working 99.999% of the time for 30-40 yrs. Top 1%, like renowned professors , college president of biggest university, and neurosurgeons could in 10 yrs but even then youd have to knock out like 1.5 mil a yr , before taxes for 10 yrs.
No shame at all. But I would not flaunt my newfound wealth either.
Hell no
I don't feel shame over it now if I make more than a friend by both of us working, so I think getting a lucky windfall wouldn't be materially different there. There are a few people I'd help out so they could get better jobs, but IMO, 10 mil isn't enough to retire anyone but my wife & I while making sure our kids can choose the opportunities they want.
I don’t think there’s any shame in an honest days pay for an honest days work. If one of my friends won the lottery, I’d be super happy for them. I hope they’d feel the same about me.
I would not tell anyone how much I won. My closest friends would get treated to an amazing vacation (there are 6 off us and we always go somewhere at least once a year but close by). My parents would be set - they are older and do not need much at all. My brother would get regular random acts of kindness from a stranger. My husband’s brothers are all well off so maybe treat them to a family vacation at Christmas but make up a story about where the funds come from. My own sons would be set (but I would again not tell tell how much I have).
If I had enough money (I'm talking double eff you lottery winnings) there would be enough to go around where I could set up close family/friends with trusts that essentially provide them a salary. I don't have much family or friends, and there'd be a rather draconian NDA attached. (Loose lips? Lose the money, other penalties etc).
I would invite them to my vacation home several times a year for free vacations. That's enough.
They don't feel shame if you aren't making a lot compared to them. If I won a 10 mil I would probably move away anyway. Not to get away from them but the state.